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I think this exact same thing was said to me in 2005 and again in 2007.
And the same thing was said to you 1999...and they were right. So what?
If you say the same thing long enough you will be right eventually.
Rents in Danville/San Ramon are really high! Between $3000 - $4000 for 2000 sq. ft. I can buy a house for these rent prices! CRAZY! RENTS aren't cheaper there and this is where I want to live...
RentingForHalfTheCost
2012 Feb 24, 10:15am
I think this exact same thing was said to me in 2005 and again in 2007.
And the same thing was said to you 1999...and they were right. So what?
If you say the same thing long enough you will be right eventually.
Actually, realtors got much much pushier in 2007. Can't blame them when their commission pay doubled for the same amount of work. Add to that the fall off in sales in 2008 and 2009 when we had too many realtors competing for too little buyers, and things got really silly.
I had a much better view of realtors in 1999. Now they just suck, cause they are leading more and more people into financial prison. You guys are suppose to study this market. You either don't study it well enough, or you purposely are misleading people at this time. In 2 years from now will probably be a good time to buy, but right now is NOT.
Down we go. I'll be enjoying the ride. It is actually like I already own a home that is appreciating. Add to it, I can call my landlord and get shit fixed at anytime without worrying about the cost. Deal!
RentingForHalfTheCost
2012 Feb 24, 10:50am
Rents in Danville/San Ramon are really high! Between $3000 - $4000 for 2000 sq. ft. I can buy a house for these rent prices! CRAZY! RENTS aren't cheaper there and this is where I want to live...
Show me the numbers where you can buy a reasonable house in Danville/San Ramon and be paying less than 3-4K/mth. I've seen some pretty executive style housing (4bd/3ba) in San Ramon in that range. You don't get them for an ownership cost less than 6K/mth, 2K is a lot of savings per month. No?
RentingForHalfTheCost
2012 Feb 24, 10:55am
A quick search of San Ramon today turned up a few houses that are much much cheaper to rent than buy.
http://sfbay.craigslist.org/eby/apa/2828366285.html
http://sfbay.craigslist.org/eby/apa/2862360150.html
http://sfbay.craigslist.org/eby/apa/2844094608.html
That took all of about 10 seconds.
JodyChunder
2012 Feb 24, 3:46pm
Even you know that 1000sqft is a big difference.
I got a 1000 square foot space or thereabouts just for my trophies.
SFace
2012 Feb 24, 9:58pm
For a claimed controller of a SEC registrant, your logic is shocking. I'm horrified actually or just can't comprehend what is being asked and addressed, in this case Patrick's rent/buy calculator.
The CFO of a 70 year old company asks:, "Controller, give me a 7 year projection of SG&A expense for the company". Controller gives the projection based on the 10 years where the company "rightsize" down and ignore the other 60 years where the company's SG&A went from 20M overall to 200M overall.
Boss, SG&A in 2020 will be 185M. Be prepared to explain yourself and pray for the best. (Controller's language based on past interaction, As we have seen in the early 1990's, prices does go down and we were succussful in reducing our SG&A at select periods in the company's history, therefore that is my basis of the forecast)
That's the calculator in a nutshell.
bubblesitter
2012 Feb 26, 3:53am
Mortgages have built in expenses
Who cares about those expenses when they all are going to be dumped on taxpayers - stupid lawmakers. :(
RentingForHalfTheCost
2012 Feb 26, 7:02am
maybe, but there is a bottom limit to rates.
I think we make the mistake sometimes ( I know I do) of thinking about the absolute rate. Say 3% and considering that it doesn't have much room to go down. However, in reality we can go down 10% of that rate pretty easily - to 2.9%. Like a bond that 10% drop is huge when you crunch the numbers. We could drop the relative 10% for the next foreseeable future. The limit, is by putting the 10yr bond at 0%, but we have a ways to go before we are even close. The 10yr bond could drop 10% relative for my lifetime and still not be at 0%. In short, the lower the rate, the smaller the absolute drop required to give a relative 10% drop. We really only care about the relative.
1sfrenter
2012 Feb 26, 1:32pm
I hope more of fellow Americans will see house for what it is - a place to enjoy and raise your kids
Yeah, but my kids will be grown with all this waiting
bubblesitter
2012 Feb 26, 1:41pm
Yeah, but my kids will be grown with all this waiting
So what are you waiting for? Vote of approval from pat.net? Buy the one that costs the same as renting and move on.
« First « Previous Comments 86 - 97 of 97 Search these comments
We're looking for a $1.4-2.2M house in the Los Angeles area, and although the prices have come down a little, it's taking much longer than the rest of the housing market. I always see homes on the internet where the buyer purchased it at the height of the bubble, and is now trying to get out without incurring a loss, or better yet is trying to make a profit. I'm assuming the only thing to do is wait for these homes to go into foreclosure or sell as a short sale?
I was hoping to buy in 2012, but maybe 2014 will be better? I've been waiting for years for this whole mess to unfold, and it's infuriating that we can't speed up the inevitable.
#housing